Laotian kip collapses in wake of SE Asian fiancial crisis

   BEIJING, January 25 (Itar-Tass) - The continuing 
financial crisis in  Southeast Asian countries has now 
gripped the Laotian economy as well.  According to reports 
reaching here from Vientiane on Sunday, the  country's 
national monetary unit -- the kip -- has collapsed. Its  
exchange rate against the US dollar is now 2,490:1.
   An announcement issued by the Central Bank of Laos points 
out that for several years the exchange rate of the kip 
remained stable. Prior to  the financial crisis, its 
exchange rate against the U.S. dollar was  700:1.
   A number of large foreign firms and companies in Laos 
have begun to curtail their operation pending a 
stabilisation of the local currency.